Gold correction on US-China patch up talks only for short term: Analysts

Support is seen at $1,365-1,375 levels, at which the metal delivered 5X returns over a five-year period

With the United States and China agreeing to hold talks on tariff issues, the bullion market heaved a sigh of relief on Monday, as prices corrected by about 1.5 per cent in Mumbai’s spot market. In the city's Zaveri Bazar, the precious metal shed Rs 451 to close at Rs 33,538 per 10 grams. In fact, gold was down nearly 1.5 per cent in the global markets as well, and was tradin at $1,388 an ounce.

Last Saturday, the US and Chinese premiers met on the sidelines of the G-20 meeting in Japan and decided to hold discussions to sort